Nvidia stock tanks 4% amid rough week for chip stocks
Published On Sep 6, 2024, 4:34 PM
Nvidia's stock dropped 4% following a difficult week for semiconductor companies, amid overall market declines spurred by a better-than-expected jobs report, which led analysts to anticipate a smaller interest rate cut by the Federal Reserve. Concerns over capital spending in tech infrastructure and doubts about the sustainability of AI-related growth contributed to this downturn. Nvidia's stock has decreased approximately 13% over the last four trading sessions, while other companies in the sector, such as Broadcom and ASML, also experienced notable declines.